The 13th MENA International Franchise Exhibition (MIFE) kicked off Wednesday in Cairo, lasting for four days, until 23 May.
Total investments in the past few years in the franchise industry in Egypt amount to EGP 60bn, from international and local companies. Companies that operate in that area include over 600 franchise-based systems, according to Tarek Tawfik, Chairman of the Egyptian Franchise Development Association (EFDA).
Through the exhibition small investors have a chance to finance projects with small-medium costs through concessional financing and guarantees offered by the Social Fund for Development (SFD), according to Hussein Abu-al-Fath, Secretary General of the EFDA.
Abu-al-Fath further mentioned that the exhibition provides local investors visiting the exhibition with the chance to expand through Egypt and internationally, through the franchise model.
The franchise industry contributes by providing approximately 800,000 direct jobs along with about 1.5m indirect job opportunities; he added.
58% of the trademarks in Egypt are foreign brands, while 42% are domestic; Tawfik further noted.
Most foreign brands in Egypt are mainly from Europe, especially Spain, Italy, Greece and France, as well as the Middle East.
Tawfik clarified that the retail sector (hypermarkets, furniture, fashion and household products) represents 49% of the franchise systems in Egypt, and that foreign brands are expanding through “Master Franchise”.
The exhibition will include 55 international and local brands, whereby 11 countries will be involved. The countries participating are Egypt, the US, Japan, Italy, Germany, France, Lebanon, England, South Korea, Malaysia and Syria.
“Last year’s exhibition saw the presence of 45 brands with representatives from only six countries and around 3,500 visitors. I however expect that this year more visitors will attend,” Tawfik said.
